Preamble
WHEREAS, there is an urgent need to accelerate the country's development; WHEREAS, there are important national projects that need to be undertaken for continued growth; WHEREAS, taking into account inflationary trends, it is imperative for the government to take an active role in the acceleration of major industrial projects, as well as other desirable development ventures; WHEREAS, the National Development Company has been created by Commonwealth Act No. 182 to serve as an agency of the government in the furtherance of its economic policies; WHEREAS, the National Development Company, a corporate vehicle of the government, designed to pursue commercial, industrial, agricultural or mining ventures, should be restructured and strengthened in order to give the necessary impetus to national economic development; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution do hereby order and decree as part of the law of the land, the following: